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10 years ago

Open Arms for Bank Execs

President Obama met with 15 of the nation's top banking CEOs at the White House this afternoon as he tried to seek common ground after his administration's recent bank bailout moves and outrage about bonuses. "The basic message is we're all in this together," John Stumpf, the CEO of Wells Fargo, said afterward. "We're trying to do the right thing for America." The meeting was designed to forge public-private ties during the economic crisis. "This is about our duty to do everything we can to support a robust and sustained economic expansion and the reality that the country's major financial institutions have a major role to play," economic adviser Larry Summers explained.